Gift Annuities Benefit Donors, Nonprofits

Remember that gift annuities involve an irrevocable transfer of assets, Minton says. You can't get your assets back once you fund an annuity.

When funding a gift annuity, donors can choose to receive payments immediately or defer them to a later date. The older you are, the higher the rate you receive. Some charities enforce a minimum age, such as 60 years old, to begin receiving payments.